Our specialized attorneys are well-equipped to handle all your legal needs, from practice purchases and startups to employment law and more. We understand the complexities involved and provide comprehensive support so you can focus on your patients. Whether you're acquiring a practice or starting your own, we guide you through contract negotiation, due diligence, regulatory compliance, entity formation, licensing, and lease agreements.
We also offer strategic counsel on employment contracts, non-compete agreements, workplace policies, and dispute resolution. Our commitment extends to building long-term relationships and delivering tailored solutions for your unique goals. Explore our services and trust us as your dedicated legal partner in the healthcare industry.
Doctors We Serve:
Dentists, Optometrists, Veterinarians, Medical Spa Doctors, Physicians,
Chiropractors, Dermatologists, and Physical Therapists
Learn How We Empower Medical Professionals To Achieve Their Practice Goals
At DMC, we specialize in providing expert legal guidance to doctors, particularly in the area of practice acquisitions. With our tailored solutions and industry knowledge, we are committed to meeting your specific needs and helping you navigate the challenges faced by medical professionals so you can focus on the more important thing - your loyal patients.
We understand that buying or selling a healthcare practice can be a complex process involving intricate legal documentation, financial considerations, and regulatory compliance. Our experienced attorneys are dedicated to simplifying the acquisition process and ensuring a smooth transition for both buyers and sellers.
How to Start a Practice:
Legal Compliance: Ensure compliance with zoning regulations, ADA guidelines, HIPAA requirements, and employment laws to establish a legally compliant practice and protect your patients' rights and privacy.
Business Entity Formation: Choose the appropriate legal structure, such as a professional corporation or LLC, to establish your practice. Consult with our legal professionals to navigate the incorporation process and take advantage of liability protection and potential tax benefits.
Lease Negotiation: Seek expert assistance to negotiate favorable lease terms for your practice location. Consider factors such as rent, lease duration, renewal options, maintenance responsibilities, and any specific clauses relevant to your medical industry.
Insurance Coverage: Obtain essential insurance policies, including professional liability insurance (malpractice insurance), general liability insurance, property insurance, and workers' compensation insurance. This safeguards your practice from potential risks and provides financial protection.
Credentialing and Provider Enrollment: Navigate the process of medical insurance credentialing and provider enrollment to ensure smooth billing and reimbursement. Complete necessary applications, meet requirements, and maintain strong relationships with insurance companies.
Regulatory Compliance: Stay informed about and adhere to regulations and guidelines set by boards, professional associations, and government agencies. Maintain infection control protocols, proper documentation, and patient care standards to ensure regulatory compliance.
Employment Contracts and Human Resources: Develop comprehensive employment contracts that outline job responsibilities, compensation, benefits, confidentiality agreements, non-compete clauses, and dispute resolution processes. Establish effective human resources practices to foster a positive and legally compliant work environment.
How to Purchase a Practice:
Readiness and Motivation: Evaluate your readiness and motivation for purchasing a healthcare practice, considering factors such as personal goals, professional vision, and commitment to practice ownership.
Financial Planning and Due Diligence: Conduct thorough financial planning, including assessing your financial capacity, securing financing options, and conducting due diligence on the practice's financial health, including revenue, expenses, and profitability.
Legal and Regulatory Considerations: Seek legal guidance to navigate the legal aspects of purchasing a healthcare practice, including reviewing contracts, agreements, licenses, permits, compliance with healthcare regulations, and addressing any potential legal risks.
Practice Valuation and Negotiations: Engage in practice valuation to determine the fair market value of the practice, considering factors such as patient base, revenue, assets, and location. Negotiate the terms of the purchase, including the purchase price, assets included, transition period, and non-compete agreements.
Transition Planning and Management: Develop a comprehensive transition plan that outlines the timeline, responsibilities, and communication strategy for a smooth transition of ownership. Manage the transition process by collaborating with the selling party, staff, and patients to ensure continuity of care.
Post-Acquisition Integration and Growth: Implement strategies for integrating the purchased practice into your operations, including aligning systems, processes, and culture. Develop growth plans and explore opportunities to enhance the practice's profitability, patient base, and service offerings.
Seek Professional Advice: Throughout the entire process, engage with experienced professionals, such as attorneys, accountants, practice consultants, and brokers, who specialize in healthcare practice acquisitions to ensure you receive expert guidance and support at each stage.
How We Support Practice Owners:
Succession / Estate Planning: Ensure the continuity of your healthcare practice by implementing solid succession strategies in advance, addressing retirement, voluntary departure, buyouts, and unexpected changes in ownership structure, and seeking professional advice to make informed decisions for your practice's future. Protect your family and business by creating a will, trusts, and powers of attorney to establish disposition instructions for your assets, provide for your loved ones, and ensure your wishes are followed in the event of incapacity or death. Our legal experts can assist you in developing an estate-minded financial plan for a secure future.
Trademarks: Understand the duration and renewal process of trademarks, the unique elements that can be trademarked (words, designs, symbols), and the importance of federal registration for nationwide protection. Avoid potential conflicts with other businesses and secure your trademark rights through proper registration.
Employment Law: Running a business involves complex employment issues, from fair compensation to compliance with regulations like the Fair Labor Standards Act and the Americans with Disabilities Act. With our legal counsel, you can navigate these challenges confidently, ensuring a proper understanding of regulations and addressing any workforce-related concerns.
Litigation / Demand Letters: When disputes or legal issues arise, it's important to have skilled legal representation to protect your rights and advocate for your best interests. Our team specializes in litigation and demand letters, providing comprehensive legal support to navigate these complex processes.
Avoiding Wage and Hour Mistakes: In order to prevent wage and hour claims, employers should prioritize compliance with labor laws and regulations. By implementing proper policies, training employees, maintaining accurate records, and seeking legal guidance when necessary, employers can reduce the risk of wage and hour disputes and ensure fair treatment of their workforce.
How to Sell a Practice:
Contractual Agreements: Ensure that the Asset Purchase Agreement (APA) includes essential legal elements such as purchase price, assets included, transition process, staff details, restrictive covenants, contingencies, warranties, representations, and any employment agreements if you plan to stay on.
Lease Considerations: If you don't own the property, introduce the buyer to your landlord and facilitate lease assignment or negotiate a new lease. Protect confidentiality during this process to avoid jeopardizing the closing date.
Regulatory Compliance: Address any regulatory requirements or licenses needed for the transfer of ownership. Consider PPO credentialing, ensuring satisfaction of prior liens, and resolving any outstanding compliance issues to ensure a smooth transition and protect the goodwill of the practice.
Due Diligence: Depending on the size of the practice, due diligence can be an arduous investigation of many facts and figures. Working with a team of professionals who specialize in the sale and purchase of healthcare practices will help reduce your risk and ensure a safe and smooth transition after the purchase has been made.
Picking The Right Buyer: Advertise the sale confidentially through advertisements, online listings, and association websites. Schedule meetings with potential buyers to ensure a good fit. We want you to be confident in who you choose to carry on your legacy.
Our specialized legal services ensure your success in acquiring or selling a healthcare practice. With thorough due diligence, expert negotiation, and compliance guidance, we secure a smooth transition and protect your interests.